Core Insights - Zeekr Group reported a strong performance in Q1 2025, with total vehicle deliveries reaching 114,011 units, a 21.1% increase year-over-year, driven by the Zeekr brand's 25.2% growth in deliveries [2][3][5] - The company achieved a vehicle margin of 16.5%, up from 13.1% in Q1 2024, indicating improved profitability [5][7] - Despite a decrease in total revenues by 37.8% from Q4 2024, the company saw a slight year-over-year increase of 1.1% compared to Q1 2024 [5][17] Delivery Performance - Total vehicle deliveries for Q1 2025 were 114,011 units, with Zeekr brand delivering 41,403 units and Lynk & Co brand delivering 72,608 units [2][3] - In April 2025, Zeekr Group delivered 41,316 vehicles, marking a 1.5% increase from the previous month [8] Financial Performance - Vehicle sales amounted to RMB 19,096 million (US$ 2,631 million) in Q1 2025, a 16.1% increase from Q1 2024 [5][17] - Total revenues were RMB 22,019 million (US$ 3,034 million), reflecting a 1.1% increase year-over-year but a significant decrease of 37.8% from Q4 2024 [5][17] - Gross profit for Q1 2025 was RMB 4,213 million (US$ 580 million), an 18.8% increase from Q1 2024 [5][17] Profitability Metrics - Gross margin improved to 19.1% in Q1 2025, compared to 16.3% in Q1 2024 [5][17] - The company reported a net loss of RMB 763 million (US$ 105 million) for Q1 2025, a 60.2% decrease from the same period in 2024 [5][19] Recent Developments - The Zeekr 7GT was launched in April 2025, showcasing advanced technology and performance capabilities [9] - The flagship luxury SUV, Zeekr 9X, was unveiled at the Shanghai Auto Show, set for global launch in Q3 2025 [10] - Lynk & Co began deliveries of the Lynk & Co 900, a large family SUV, which has already received over 40,000 pre-orders [11] Management Commentary - CEO Andy An highlighted the successful integration of Zeekr and Lynk & Co, expanding the user base to over 1.9 million [13] - CFO Jing Yuan noted that enhanced platform synergies and disciplined supply chain management contributed to record profitability, with vehicle margins reaching 16.5% [13]

Core Viewpoint - Zeekr Group reported a total of 41,316 vehicle deliveries in April 2025, reflecting a 1.5% month-over-month increase, supported by a user base of over 1.9 million [2]. Group 1: Delivery Results - In April 2025, Zeekr Group delivered 41,316 vehicles, with Zeekr brand contributing 13,727 vehicles and Lynk & Co delivering 27,589 vehicles [2]. - The 1.5% increase in deliveries compared to the previous month indicates a positive growth trend for the company [2]. Group 2: New Product Launches - The Zeekr 7GT, launched on April 15, 2025, features advanced silicon carbide-powered e-motors, achieving 0-100 km/h in 2.95 seconds, showcasing high performance and safety [3]. - Zeekr Group introduced its flagship luxury SUV, the Zeekr 9X, at the Shanghai Auto Show, marking its first hybrid model and aiming for a global launch in Q3 2025 [4]. - The Lynk & Co 900, a large six-seater family SUV, began deliveries on April 28, 2025, with over 40,000 pre-orders since its debut in December [5]. Group 3: Company Overview - Zeekr Group, part of Geely Holding Group, is headquartered in Zhejiang, China, and focuses on creating a fully integrated user ecosystem with innovation as a standard [6]. - The company is developing its own software systems, e-powertrain, and electric vehicle supply chain, emphasizing values of equality, diversity, and sustainability [6].